Exxon Mobil profit falls as markets crash

Exxon Mobil posted its fifth straight quarterly profit decline after crude oil and natural gas lost more than 40% of their value because of global oversupplies.

Exxon is the latest of the super-major oil companies to disclose dismal fourth-quarter results amid the worst energy market downturn in a generation.

The benchmarks for international crude and US gas both dropped 42% during the final three months of 2015 as global production continued to overwhelm demand.